The yield curve is flat and have been estimated as $3\mathrm{.}4\%$ for all maturities. The three$-$month LIBOR rate is $3\mathrm{.}5\%.$ The LIBOR forward rate for the three$-$month to six$-$month period is $3\mathrm{.}7\%.$ What is swap rate for a six$-$month swap where payments are exchanged every three months. All rates are expressed with quarterly compounding.